Huawei has revealed that the new Huawei Mate 40 series will include an integrated hardware wallet for China’s central bank cryptocurrency, the digital yuan.
On October 30, a post on the Chinese Weibo microblogging website announced that this would be the first smartphone to feature such a digital wallet.
Users will be able to monitor their privacy and security as well as perform dual offline transactions, according to the post.
“The # HuaweiMate40 # series is the first smartphone to support digital RMB hardware wallet, security at the hardware level, controllable anonymity safety, dual offline transactions, bringing a new secure and convenient payment experience,” said Yu Chengdong, Huawei’s CEO
Huawei also offers the Weibo user, who forwards the post to most users, a free Mate40 Pro. At this point, it is unclear whether Mate40 users will be able to convert any bank savings directly into a physical-digital yuan wallet. Yu, on the other hand, noted that the new feature will expand the usage of yuan on the mobile front.
The Mate40 will be the first Huawei model to use 5 nm chip technology. This feature was also integrated up on the latest Apple’s iPhone 12. The innovation grants billions of transistors to be squeezed onto a single chip, incredibly raising the potential power capacity.
The continuous trade war between the United States and China will limit Huawei from having the alternative to purchase a greater quantity of its Kirin 9000 processors until its current store runs out.
As several nations are battling to be the first to launch a CBDC, it is reported that China’s digital yuan is already in the testing stages.
One of the key reasons behind China’s accelerated digital currency growth, as Mycryptoparadise reported, is to act against the U.S. dollar’s impact on global trade.